Thursday , May 30 2024
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Real Estate

Housing affordability remains a problem

Mortgage Charts

Twenty seven percent of California households could afford the median price of a single-family home – $720,490 – during the first quarter of 2021, a 35 percent year-over-year drop, the California Association of Realtors reported Tuesday. An annual income of $131,200 was needed to make monthly mortgage payments of $3,280, based …

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Mortgage delinquencies rise

Five point seven percent of all U.S. mortgages were delinquent in February, according to data released this week. That number, which represents multiple stages of delinquency, was a 2.1 percent increase from February 2020, Irvine-based CoreLogic reported. Early stage delinquencies – 30 to 59 days past due – were at …

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Third-party logistics company to locate in Perris

IE manufacturing

A third-party logistics company has leased a 400,000-square-foot industrial building in Perris. Kenco Logistics Services will serve multiple clients out of the building at 1301 Harley Knox Blvd., according to a statement released Tuesday. The structure, which includes 4,650 square feet of office space, is part of the Perris Gateway …

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Progressive negotiates AV sale

Progressive Real Estate Partners has negotiated the sale of a 5,000-square-foot retail building in Apple Valley. The building, at 20152 U.S. Highway 18, sold for $1.3 million in an all-cash transaction, the Rancho Cucamonga-based commercial real estate brokerage announced today. Recently renovated, part of the building is occupied by Little …

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U.S. home prices keep rising

median priced home

Home prices continued to rise in March, the result of increased consumer confidence and more people returning to the job market. The price of a single-family home rose 11.3 percent in March year-over-year, with millennials leading the way while splitting into two camps: those looking for a “move-up” home and …

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SB apartment complex fetches $16.5 million

building sold

Hillside Village, an 80-unit apartment project in San Bernardino has sold for $16.5 million. Tower 16 Capital Partners, a commercial real estate brokerage investment and management company in Encinitas, announced the sale earlier this week. Information about the buyer was not disclosed. “We made major improvements to the Hillside Village …

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